The Investment Think Tank: Theory, Strategy, and Practice for Advisers

The best investment practitioners, the ones who get results, rely
not just on their instincts and experience but on the insights of
the trailblazers in their field—the people who interpret,
challenge, and even devise the strategies and tools that shape
investment management. But when you're in the
trenches—serving clients and running a business—the
voices at the front can have trouble getting through, and you may
sometimes wonder if your methods are as current as your clients
deserve.

Strategies continue to be explored, and tactics can change
almost as quickly as the markets. What's the story behind Peter
Bernstein’s challenge to a fixed-asset-allocation mix? Did
the financial-planning community take a wrong ideological turn in
espousing it? What can behavioral finance tell you about serving
your clients? What choices can you make to ensure tax efficiency in
your clients' portfolios? Downside risk measures have come a long
way since Markowitz brought them so much attention. But when's the
last time you checked into your reward-to-semivariability ratios?
How current is your understanding of the core-and-satellite
approach to portfolio design? And how much do you know about
putting one in place for your client?

To get some answers to these and other questions, financial
advisers Harold Evensky and Deena B. Katz invited some of the best
minds in investment management to share their best thinking. The
result is a gathering of eagles that will challenge your beliefs,
reinforce your convictions, pique your curiosity, and maybe even
improve some of those tried-and-true practices you put in place too
long ago.

So sit in on this remarkable think tank. Treat yourself to a
compelling array of ideas—from the doggedly practical to the
delightfully abstract—that will inform and stimulate your own
thinking and reawaken the reasons you came to investment management
in the first place.

Harold Evensky is chairman of Evensky & Katz, a
financial-advisory firm in Coral Gables, Florida. Deena B.
Katz is president. Their innovation and skill have earned them
the loyalty of clients; their daring and dedication have won them
the respect of their peers. Evensky is the author of Wealth
Management: The Financial Advisor’s Guide to Investing and
Managing Client Assets; Katz is the author of Deena Katz on
Practice Management and Deena Katz’s Tools and
Templates for Your Practice. Together they’ve also
coedited Retirement Income Redesigned. Both are
featured speakers at national and international
investment-management and financial-planning conferences, and both
are published widely and quoted extensively in financial journals
and in newspapers.

"Like many advisers, your stack of investment journals probably
keeps growing and growing. Overwhelmed, you just don't have the
time to find the best articles. Harold Evensky and Deena B. Katz
have done the work for you." (Research magazine, August
2005)

"The offerings here are universally engaging, to the point, and
appropriately documented; many are accompanied by useful charts and
checklists that support the text. For a broad cross-section of
fresh and innovative thinking in the financial planning field, this
is a most stimulating and thought-provoking collection." (Estate
Planning, August 2005)

"All serious practitioners should take the time to read The
Investment Think Tank. Harold Evensky and Deena Katz have
done it again with a book covering topics important to our industry
and critical to our clients' financial success."
—Charlie Haines, MBA, CFPPresident and CEO, Charles D. Haines, LLC

"It's rare when pragmatism joins forces with pure science, but I
expected no less from this team. Harold Evensky and Deena
Katz—masters of theory and practice in financial
planning—rounded up a winner's circle of investment pros.
There's something here for even the most seasoned in the
business. And if you're new at the game, pay close
attention."
—Jessica M. BibliowiczPresident and CEO, National Financial Partners

"Individual investors today find themselves facing a growing
need for sophisticated advice to help secure their family's
financial well-being. Harold Evensky and Deena Katz have long been
thought leaders in this important area, and their book makes an
important contribution by shedding new light on many of its
facets."
—Martin L. LeibowitzManaging Director, Morgan Stanley
Coauthor, Inside the Yield Book

"Given the pressures, demands, and challenges of everyday
business, financial advisers can gravitate to formulaic solutions
to financial planning. The panoply of issues addressed by a host of
financial professionals in The Investment Think Tank should
encourage advisers to consider the pitfalls in seeking panaceas, to
better understand the vast variety of issues involved with
constructing a financial plan, and to appreciate the fiduciary
importance of understanding an individual investor's needs,
objectives, and psychological concerns in the design process. I
salute Harold Evensky and Deena Katz for their continuing efforts
to improve the quality of the financial planning
professional's performance."
—Thomas A. JamesChairman and CEO, Raymond James Financial, Inc.

"A great read, packed with valuable information from some
of the best minds in the business."
—J. Thomas Bradley, Jr.
President, TD Waterhouse Institutional Services

Instructors

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